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The alternate interpretation of the illustration is that inflation has been alive in the federal government … but not in the economy. When the Fed eventually lets interest rate float, in their “end game,” we can expect hyperinflation that will make Jimmy Carter look like a genius.

leigh, the right needs to get its collective head around gross monetary debasement by running federal policy. Pursuant that, the other thing it needs to get its head around is that the beneficiaries of such policy own this government.

The answer to your question about the Sec of Treasury more or less writes itself when that’s understood.

Now Bernanke is speaking about a globe full of monetary problems and trillions and trillions of dollars in relocated wealth entirely contemporaneously, as if a hundred years of Fed policy and the resulting three cent dollar and the clear path that relocation always seeks somehow never preexisted them.

This is institutional madness in a finite, round globe monopolized by these exclusive, unrepresented machinations.

Bernanke is speaking like a guilty child to a room full of schoolmarms who desperately want to give him a second chance. This is a fucking joke.

And here comes Schumer softballing Bernanke by framing this bent, warped reality in terms of the horrors sequestration. This is a fucking joke. These people have no souls.

Note that what’s good for establishmentarian monetary and fiscal news is good for the stock market — it’s literally all that’s keeping it afloat, primarily via a weak dollar and pumped bank stocks — and is in turn roughly bad for metals. The inverse holds too, obviously.

JHo, we also needs to keep an eye on the PIGS. Italy is getting ready to do a great swan dive which will set the rest of Europe on its collective asses and rumble around the globe to take out our markets in its wake.

Therefore there can be no wrap around effect, leigh. Progressive reality has just spoken and if push comes to shove surely the presses will roll and the funds you and I are liable for and to will reinflate our friends in the PIGS, they being too big to fail.

Progressive reality has just spoken and if push comes to shove surely the presses will roll and the funds you and I are liable for and to will reinflate our friends in the PIGS, they being too big to fail.

The modern Democratic Party could be viewed as being built around the principle that every vote, is a bought and paid for vote, paid for by, to the maximum extent possible, other peoples money. This has worked for them at least since the FDR times.

In 1994 there were a series of Democrat scandals where the general population got a peek at this principle in action and they lost the House. The Republicans, not understanding their exact role in this system, tried to run as if they were the New-Democrats. It didn’t work out so well for them and they lost out in 2006.

The establishment Republicans then came to realize what their place was in this. They are to be the side that attracts all those who want to stop the Democrat vote buying scheme, and to always, just barely, not be able to stop it. For this they get to partake of some of the table scraps from the Democratic Party feast. This was their role for most of the 20th century.

They problem with this whole system, the weak point, is the OPM that is the support for the entire edifice. The money has to come from, be generated by, some source which is outside the system itself. This outside source must be larger than the insiders system and not be able to or want to fight the theft.

Sometimes it is said that the Democrats resemble an organized crime syndicate. I think it is more that their Party through its big city machines came to see that organized crime was built in imitation of government not the other way around.

Obama, Pelosi, and Reid in the course of taking back control of “their” system of governance from the Republicans and ensuring that they never should actually lose it again have let loose a monster that may consume them along with all of us too.

To cement their power they raised the price they would pay for votes. The stimulus was the first shot and aimed at buying the votes in elections and of those in the lower levels of governments. These payments then became the new normal expected by their base. The second price inflation was during the Obamacare voting. Things like the “Cornhusker kickback” showed the higher levels of the Party that they too could now demand more, much more than before. Once these expectations are there they can only increase over time.

This is the real curve the Obama has bent. The vote-price curve has been setup to go hyperbolic. They are riding a monster that must eat up more and more OPM, but the more it eats the less OPM there is the next time. Not ending well.

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